Fin24 reports that a new incentive for the global business services sector will create employment opportunities for youth in SA, according to Trade and Industry Minister Rob Davies.  

The Global Business Services incentive, which came into effect on 1 January 2019, replaces the previous Business Process Services Incentive.  The department of trade and industry (dti) revised the package after continuous monitoring of the sector, a global benchmarking study and investor engagements.  Through the incentive, youth will have opportunities in medium to high complexity jobs linked to major global brands, the department explained.  "Areas of special interest by potential global investors are legal services, finance and accounting and IT services," Davies indicated.  The industry body representing the global business services sector in SA – the BPeSA – is of the view the revised incentive will ensure SA remains competitive.  According to the dti, the sector has reported an average annual growth rate of 22% and the growth rate is expected to increase over the next five years.

• Read Lameez Omarjee’s original report in full at Fin24

Get other news reports at the SA Labour News home page